India's Supreme Industries falls on Q2 profit drop; brokerages dour on co

Supreme Industries

28/10/2025 05:47

** Supreme Industries SUPI.NS falls 4% to 3,851 rupees, lowest since May 23; set for seventh straight session of losses

** Piping products maker's Q2 PAT drops 20% y/y; rev from ops up 5% y/y

** Antique Stock Broking (maintains "buy"; cuts PT to 4,270 rupees from 4,480 rupees) says piping business growth for agricultural applications impacted by early onset of monsoon

** Cuts earnings estimate considering lower margin, higher depreciation led by co's Wavin acquisition

** Ambit Insights (maintains "sell") says co failed to expand any product segment beyond plastic pipes

** Cuts earnings estimates citing co's priority of volume growth over profitability in near-term

** However, raises PT to 3,308 rupees from 3,265 rupees due to expectations of market share gain in long term

** Stock rated "buy" on avg; median PT is 4,350 rupees, per data compiled by LSEG

** YTD, SUPI down ~18%

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))